Yorktown Management & Research Co Inc purchased a new stake in Reliance Steel & Aluminum Co. (NYSE:RS) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,100 shares of the industrial products company’s stock, valued at approximately $845,000.

A number of other hedge funds also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in Reliance Steel & Aluminum Co. by 14.3% in the third quarter. Pacer Advisors Inc. now owns 13,022 shares of the industrial products company’s stock valued at $992,000 after purchasing an additional 1,630 shares in the last quarter. Macquarie Group Ltd. raised its stake in Reliance Steel & Aluminum Co. by 0.8% in the third quarter. Macquarie Group Ltd. now owns 111,910 shares of the industrial products company’s stock valued at $8,525,000 after purchasing an additional 875 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Reliance Steel & Aluminum Co. by 9.2% in the third quarter. Ameriprise Financial Inc. now owns 403,701 shares of the industrial products company’s stock valued at $30,750,000 after purchasing an additional 33,982 shares in the last quarter. Timber Hill LLC acquired a new position in Reliance Steel & Aluminum Co. in the third quarter valued at about $224,000. Finally, NTV Asset Management LLC acquired a new position in Reliance Steel & Aluminum Co. in the third quarter valued at about $209,000. 82.36% of the stock is owned by institutional investors and hedge funds.

WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/11/21/yorktown-management-research-co-inc-purchases-shares-of-11100-reliance-steel-aluminum-co-rs.html.

RS has been the subject of several research analyst reports. ValuEngine raised Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Jefferies Group LLC reissued a “hold” rating and set a $72.00 target price on shares of Reliance Steel & Aluminum Co. in a research note on Friday, October 6th. Cowen and Company reissued a “buy” rating and set a $92.00 target price on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, October 4th. Zacks Investment Research raised Reliance Steel & Aluminum Co. from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Monday, October 16th. Finally, Clarkson Capital reissued a “buy” rating on shares of Reliance Steel & Aluminum Co. in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $82.00.

Shares of Reliance Steel & Aluminum Co. (NYSE:RS) traded up $1.23 during mid-day trading on Tuesday, reaching $75.59. The company had a trading volume of 304,800 shares, compared to its average volume of 497,303. Reliance Steel & Aluminum Co. has a 1-year low of $68.46 and a 1-year high of $88.58. The company has a market capitalization of $5,430.00, a PE ratio of 14.70, a PEG ratio of 1.60 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.06 and a quick ratio of 1.79.

Reliance Steel & Aluminum Co. (NYSE:RS) last announced its earnings results on Thursday, October 26th. The industrial products company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Reliance Steel & Aluminum Co. had a return on equity of 8.61% and a net margin of 3.97%. The business had revenue of $2.45 billion for the quarter. During the same quarter in the previous year, the company earned $1.25 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. sell-side analysts predict that Reliance Steel & Aluminum Co. will post 5.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, November 16th. Reliance Steel & Aluminum Co.’s payout ratio is presently 35.36%.

Reliance Steel & Aluminum Co. Profile

Reliance Steel & Aluminum Co is a metals service center company in North America (the United States and Canada). As of December 31, 2016, the Company’s network of metals service centers operated over 300 locations in 39 states in the United States and in 12 other countries (Australia, Belgium, Canada, China, France, Malaysia, Mexico, Singapore, South Korea, Turkey, the United Arab Emirates and the United Kingdom).

Want to see what other hedge funds are holding RS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reliance Steel & Aluminum Co. (NYSE:RS).

Institutional Ownership by Quarter for Reliance Steel & Aluminum Co. (NYSE:RS)

Receive News & Ratings for Reliance Steel & Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reliance Steel & Aluminum Co. and related companies with MarketBeat.com's FREE daily email newsletter.